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Stefan Karlsson
Ekonomiczny blog profesora makroekonomii ze Szwecji.Opinie autora blogu nie powinny być utożsamiane z oficjalnym stanowiskiem NBP w omawianych kwestiach.
Artykuły
Stephen Harper’s Pro-Growth Agenda
To boost economic growth in Canada, Prime Minister Stephen Harper will:
-Limit government spending.
-Make immigration policy more focused on immigrants that contribute to the economy.
-Increase free trade.
-Reduce regulatory delay for mines and energy production, thus increasing output of it.
China’s Economy To Surpass America’s By 2020-Or Earlier?
According to preliminary estimates, China’s GDP in 2011 was 47.156 trillion yuan, which at the current exchange rate of 6.3138 translates into roughly $7.47 trillion.
By comparison, tomorrow’s GDP report for the United States will likely show that 2011 GDP was roughly, or slightly over $15 trillion. That means that China’s economy is now nearly half [...]
Why Debt Downgrade Matters Even Though It Shouldn’t
Given the fact that bond yields of most of the euro area countries that were downgraded by Standard & Poors actually fell (contrary to what one might expect), similar by the way to how U.S. treasury yields dropped after they got downgraded by S&P, one can ask if S&P and other credit rating agencies have [...]
The Myth Of Machines Causing Unemployment
Despite a modest recovery the last few months, the U.S. labor market remains depressed as this chart over the employment to population ratio illustrates.
Now again the myth that this is caused by machines displacing human workers resurfaces.
Yet if that was true then productivity growth would have increased, whereas in reality it has decreased from the [...]
Summary Of 2011 Currency Movements
It has become something of an annual tradition at this blog to summarize the yearly movement of a number of important currencies. This year, most currencies didn’t change very dramatically against the U.S. dollar for the year as a whole. 5 currencies rose, three of which (the Australian and New Zealand dollars and the U.K. [...]
North Korea As The Commie Nazi State
The death of North Korea’s dictator Kim Jong-il and his replacement with his son Kim Jong-un, rattled Asian markets in general and South Korea’s in particular. Something that one wouldn’t think should happen considering that North Korea has virtually no trade or other economic interaction with any other Asian country except China-and even for China [...]
Chinese Foreign Reserves Are Falling
I noted in October the irony of blaming the U.S. trade deficit on China’s policy of a semi-fixed exchange rate considering that the yuan has in fact been far stronger than that of non-Japanese Asian countries with floating exchange rates and for that matter currencies of European countries with large surpluses like Switzerland, Norway and [...]
US recession more serious than previously thought
I have repeatedly called into attention the fact that the income based numbers gross domestic income/national income have been a lot weaker the past few years than the expenditure based gross domestic product/net national product, even though they theoretically should be identical. This means that the U.S. recession was a lot deeper than the GDP [...]
Money is Essential
Matt Rognlie attacks monetarism and more broadly the belief that money matters, which Austrians also believe indeed, even more so than the so-called monetarists. I am more of an Austrian than a Friedmanite, so I feel no need to defend Friedman’s theories, but I do want to defend the idea that money matters.
In his first [...]
Japan will rise up in a better shape
Remember how Keynesian Larry Summers said that the earthquake/tsunami in Japan was bad because so many people were killed but that it had the silver lining of stimulating the Japanese economy?
Now we see that industrial production in Japan fell a record 15.3% in March. That’s some boom….
However it is worty to remind that the situation in Japan [...]
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